The global location-based entertainment market is projected to value USD 7.8 billion until 2025. It is expected to register a CAGR of 32.1% over the forecasted years, 2019 to 2025. The increasing preference to gain realistic gaming experience prevailing among the millennial population is projected to propel the market growth.
The amusement park end-use segment dominated the global market owing to the rapidly increasing adoption of entertainment systems in parks and gardens for attracting children. On the other hand, the arcade studios segment is expected to witness the fastest growth due to the increasing inclination of the millennial population for experiencing coin-operated games.
The 3 Dimensional technology segment is projected to dominate the global market over the forecasted years owing to rapid technological advancements being undertaken for providing realistic gaming and viewing experience. Moreover, its deployment across LBE sites is projected to boost market growth.
North America dominated the global location based entertainment market in 2018 owing to the increasing popularity of VR services and rising disposable income prevailing among the working population across countries like the U.S. and Canada. While, Asia Pacific is expected to witness the highest CAGR over the forecasted years owing to a large number of teenagers and younger population and emergence of tourism across countries like India, Malaysia, and China.
The market for location-based entertainment includes players such as IMAX Corporation, VRstudios Inc., Exit Reality, Springboard VR, and The VOID LLC. They are constantly engaged in product development and innovation for gaining competitive advantage and widening the global reach.
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Further key findings from the report suggest:
• The arcade studios end-use segment is projected to register highest CAGR over the forecasted period, 2019 to 2025.
• The 3 Dimensional technology segment dominated the global market in 2018.
• In 2018, North America dominated the global location-based entertainment market.
• The key players in this market are IMAX Corporation, VRstudios Inc., Exit Reality, Springboard VR, and The VOID LLC.
Million Insights has segmented the global location based entertainment market on the basis of component, end use, technology, and region:
Location-based Entertainment Component Outlook (Revenue, USD Million, 2014 - 2025)
Location-based Entertainment End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Amusement Park
• Arcade Studios
• 4D Films
Location-based Entertainment Technology Outlook (Revenue, USD Million, 2014 - 2025)
• 2 Dimensional (2D)
• 3 Dimensional (3D)
• Cloud Merged Reality (CMR)
Location-based Entertainment Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa